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Aug 18, 2011
08/11
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if you're going to do a straight tax other than income tax you want to look at a gasoline tax that will raise a lot of money. if you put a gasoline tax on at the same time you increase the fuel efficiency of automobiles, you could put a dollar gasoline tax on $.10 a year for ten years and by the fifth year people would be spending no more. >> charlie: if you were running for president, would you make that part of your platform. >> i don't know. i tried that once. >> ask this one question because bill raised an important thing, talking about ronald reagan, a man you worked with and for. are people in the tea party saying about taxing are they the inheritors of ronald reagan or not. >> they're the inheritors of what they're evolving to. they're a new movement. they have chosen not to leave the republican party. they're trying to push the republican party towards resistance to taxes. at least they wants to make it clear to the voters that democrats are more in favor of raising taxes and republicans are more in favor of cutting spending. but i think in the end, we're going to see compromise
if you're going to do a straight tax other than income tax you want to look at a gasoline tax that will raise a lot of money. if you put a gasoline tax on at the same time you increase the fuel efficiency of automobiles, you could put a dollar gasoline tax on $.10 a year for ten years and by the fifth year people would be spending no more. >> charlie: if you were running for president, would you make that part of your platform. >> i don't know. i tried that once. >> ask this...
WHUT (Howard University Television)
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Jul 12, 2011
07/11
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taxes now. nobody has talked about increases... increasing taxes next year. what we have talked about is that starting in 2013 that we have gotten rid of some of these egregious loopholes that are benefiting corporate jet owners or oil companies at a time where they're making billions of dollars of profits. >> rose: and there were words of praise for house speaker boehner. >> my experience with john boehner has been good. i think he's a good man who wants to do right by the country i think that it's, as chi alluded to, the pitics that swept him into the speakship were good for a midte election they're tough for governing. and part of what the republin caucus generally needs to recognize is tt american democracy works when people list toeach other, we're willing to give each other the benefit of the doubt. >> rose: boehner, who rejected the $4 trillion package over the weekend, responded to president obama's remarks today. >> so we've been involved in i think, very sincere and honest negotiations
taxes now. nobody has talked about increases... increasing taxes next year. what we have talked about is that starting in 2013 that we have gotten rid of some of these egregious loopholes that are benefiting corporate jet owners or oil companies at a time where they're making billions of dollars of profits. >> rose: and there were words of praise for house speaker boehner. >> my experience with john boehner has been good. i think he's a good man who wants to do right by the country...
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Aug 16, 2011
08/11
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no, the taxes... taxes are falling... the high rates are falling on the middle-class and the upper middle-class. >> rose: the argument is sometimes made by people who believe that it is always good economic policy to reduce taxes that if, in fact, you reduce taxes you will create economic expansn and economic growth. people are go out and create jobs if they're not paying as much taxes. people if they're paying a higher tax wl not me adds many investments. >> well, i work with investors for 60 years. small ones, large ones superlarge ones. i have yet-- and i'v worked with capal gains rates of 39.9% and 36% and 25%, i have yet to here one person say to me "... if i call you in the middle of the night and say "i've g this hot investment idea." your reaction is not to say "no matter what t tax rate, forget it, i'm going back to sleep because the capital gainsates are too high." no, you're going to say "te me name, quick, warren, before you change your mind." i have never had one person decline to invest with me. and i was ru
no, the taxes... taxes are falling... the high rates are falling on the middle-class and the upper middle-class. >> rose: the argument is sometimes made by people who believe that it is always good economic policy to reduce taxes that if, in fact, you reduce taxes you will create economic expansn and economic growth. people are go out and create jobs if they're not paying as much taxes. people if they're paying a higher tax wl not me adds many investments. >> well, i work with...
WHUT (Howard University Television)
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Sep 14, 2010
09/10
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do sales tax, value added tax. those tax ideas. >> rose: either one of those. >> are economically good readys. the question is in the context it. >> rose: are they disproportionate in terms of, does the poor bear a larger burden. that is the argument. >> that is legitimate debate under a consumption based tax. i would argue the level of the tax matters a lot. if you have a very low consumption base tax relative to the current system we have today, where taxes are passed on to consumers, or they are taken out of workers wages, you can have a better system that will produce more jobs, more prosperity that leaves people in lower rung of the economic ladder better off a. the problem with that debate is are we going to have a vat and stuck on top of the current system with a much bigger tax burden. that is the worst of both worlds. so people like me, want to reform the tax code and replace the existing tax code with a better system that produces jobs and economic growth and makes american businesses more competitive. >>
do sales tax, value added tax. those tax ideas. >> rose: either one of those. >> are economically good readys. the question is in the context it. >> rose: are they disproportionate in terms of, does the poor bear a larger burden. that is the argument. >> that is legitimate debate under a consumption based tax. i would argue the level of the tax matters a lot. if you have a very low consumption base tax relative to the current system we have today, where taxes are passed...
WHUT (Howard University Television)
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Apr 14, 2011
04/11
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we want to keep the tax revenue where's they are and fix the tax code. the partisan spending rhetoric, if you don't fix entitlements, charlie, if you don't get spending under control, there's not going to be any money left for those other things, for roads, for bridges, for education, for the environment. by fixing the drivers of our debt and get the entitlement programs, saved, sustainable, and secure you free up the money for other priorities in the government. if you don't address the drivers of our debt-- which clearly the president is not. he's not making a proposal to do that-- then you don't have money left for everything else. so i'm amazed that he would use that kind of hyperbolic, hypervendalating rhetoric to describe a plan which we clearly don't do that. we call our plan a path to prosperity because it's welfare reform to get people back to work, economic growth and job creation. it's getting medicare, medicaid, social security saved. we want to save these programs. and by the way, our proposals don't change a single benefit for anybody the a
we want to keep the tax revenue where's they are and fix the tax code. the partisan spending rhetoric, if you don't fix entitlements, charlie, if you don't get spending under control, there's not going to be any money left for those other things, for roads, for bridges, for education, for the environment. by fixing the drivers of our debt and get the entitlement programs, saved, sustainable, and secure you free up the money for other priorities in the government. if you don't address the...
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Mar 13, 2011
03/11
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they do not pay any income taxes. -- any payroll taxes. they do pay income taxes. they do not pay income taxes, they found a constitutional roles of the federal government. those payroll taxes are not adequate to fund the programs that -- >> let me grab another statistic. 69% of the people are paying in their payroll taxes and income taxes, paying more, almost that they are taking home. i am off on that one. >> more people pay -- most americans pay more in payroll taxes than they do in income taxes, and the total tax burden is shared by a fairly small percentage of americans. we really do have a protes progressive tax structure. here is the other issue -- we are not generating enough revenue to pay our bills now. >> well, that is what we started off by saying. >> and is going to get worse. we have to figure out what should the government be doing, how do we do it, how do we measure success, and how are we going to finance it? we have to reconcile what people want with how we can afford it. >> i do not want to play politics, but were the bush tax cuts a good idea? h
they do not pay any income taxes. -- any payroll taxes. they do pay income taxes. they do not pay income taxes, they found a constitutional roles of the federal government. those payroll taxes are not adequate to fund the programs that -- >> let me grab another statistic. 69% of the people are paying in their payroll taxes and income taxes, paying more, almost that they are taking home. i am off on that one. >> more people pay -- most americans pay more in payroll taxes than they do...
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Jun 29, 2011
06/11
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our tax code. we have many to not paying much tax. 49% of the family households in this country pay no tax so what we need is a flatter fairer system that is predictable and offers some certainty for people that are sitting on the side line of our country to have it invested. if it gets invested and produces actual economic activity, then the benefit for the federal government is tremendous. it's a great copy of what reagan did. i can remember as a doctor i my medical office in 86 or 87, i was really upset with reagan and the fact that my actual, the taxes i went up paid. but the stimulus to the country was tremendous. so tax revens that are hanced through changing the tax code and flattening it and making it more fair is fine with me. i don't have any problem. i think the exact opposite in terms of raising taxes what you don't want to do in a very of thecono and especiall when we have the distortion in terms of who is paying taxes in this country today. >> charlie: some people have problems with i
our tax code. we have many to not paying much tax. 49% of the family households in this country pay no tax so what we need is a flatter fairer system that is predictable and offers some certainty for people that are sitting on the side line of our country to have it invested. if it gets invested and produces actual economic activity, then the benefit for the federal government is tremendous. it's a great copy of what reagan did. i can remember as a doctor i my medical office in 86 or 87, i was...
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Sep 3, 2012
09/12
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it's what reagan did with tax reform early on, reducing marginal tax rates and then '86 tax reform. the necessary part of that is to keep spending from spiraling out of control and particularly from allowing entitlements-- as the electorate ages-- from eating up more and more of the general economy. >> rose: as you know, the perception is that you do not want to compromise. and you don't want people who have signed the pledge to compromise and what's necessary is compromise. alan simpson has articulated this that he doesn't think anybody who doesn't want to compromise must have rocks in their brain. >> well, depends what you mean by compromise. i'm in favor of compromising towards liberty. i'm in favor of all steps towards liberty, fast or slow. we got a $2.5 trillion spending cut agreed out of last year's budget. we wanted the ryan plan which is a six-year... $6 trillion reduction in spending over a decade. we only got half of what we wanted but spending is coming down as a result of that agreement, no taxes were raised. there was a compromise towards liberty. >> rose: the compromi
it's what reagan did with tax reform early on, reducing marginal tax rates and then '86 tax reform. the necessary part of that is to keep spending from spiraling out of control and particularly from allowing entitlements-- as the electorate ages-- from eating up more and more of the general economy. >> rose: as you know, the perception is that you do not want to compromise. and you don't want people who have signed the pledge to compromise and what's necessary is compromise. alan simpson...
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Dec 8, 2010
12/10
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refundable tax credits. payroll tax cuts. those... that's not chicken feed stuff, that's stuff that matters. i wouldn't defend some of the things they gave away on either side, but that stuff is not as irrelevant as the two members of congress have suggested. >> rose: there are a number of things on our side of the bargain that are very good. the question is did we have to make those kinds of tradeoffs in order to get them? no doubt about it. the stimulus for the economy, the tax credits for low-income people, the fact we're not going to raise taxes for people under $200,000. these are very positive things. but the question we have, did we have to do this wholesale giveaway to the wealthiest americans in order to achieve it? the president thinks that we did >> what i don't understand is the congress shifts starting in a month and so isn't time on the republicans' side if the president bargains around and dithers? >> well, can i take that? that assumes for a moment that the president has this terrible unpopular thing he's trying to sel
refundable tax credits. payroll tax cuts. those... that's not chicken feed stuff, that's stuff that matters. i wouldn't defend some of the things they gave away on either side, but that stuff is not as irrelevant as the two members of congress have suggested. >> rose: there are a number of things on our side of the bargain that are very good. the question is did we have to make those kinds of tradeoffs in order to get them? no doubt about it. the stimulus for the economy, the tax credits...
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Jul 9, 2009
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local taxes, property taxes and so forth. that's one version of a relatively progressive value-added tax. none of them are going to be perfectly progressive and the argue against them is they're not progressive enough. but almost every one of the other really advanced societies in the world today has a value-added tax. and whether we should have one or not would depend on whether we could structure one to be progressive enough to fit the american way. if we could, i think it's something this which we would have to very seriously explore. the other alternatives in many cases don't raise enough money and in some cases are less palatable. >> rose: if i was president of the united states and i surrounded myself with all these gh powered minds like larry summers and tim geithner, i'd expect them to be thinking about this today and all the eventualitys and to have some opinion on it even though it may be 2011. do you know that kind of discussion, debate, is taking place in this white house? >> to the best of my knowledge it isn't.
local taxes, property taxes and so forth. that's one version of a relatively progressive value-added tax. none of them are going to be perfectly progressive and the argue against them is they're not progressive enough. but almost every one of the other really advanced societies in the world today has a value-added tax. and whether we should have one or not would depend on whether we could structure one to be progressive enough to fit the american way. if we could, i think it's something this...
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Apr 15, 2013
04/13
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day we come back, it is tax and we will speak with a tax resister. stay with us. ♪ [music break] >> this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. today is april 15, tax day, a day when millions of americans scramble to file their income taxes on time. it's also there when people across the country planning to protest the use of tax dollars to fund war. in dozens of communities across the country, demonstrations are planned at irs offices, federal buildings, weapons factories and post offices to protest ongoing massive u.s. government expenditures on drones, missiles, and bombs. according to a new pie chart released by the war resisters league, 47% of federal taxes goes towards war in some form or other. to protest this, some americans are taking a stand today by personally refusing to pay their federal taxes. these tax resisters across the country risking jail time withholding all our portion of their federal income taxes and instead redirecting the money to humanitarian efforts. not pay resister is federal
day we come back, it is tax and we will speak with a tax resister. stay with us. ♪ [music break] >> this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. today is april 15, tax day, a day when millions of americans scramble to file their income taxes on time. it's also there when people across the country planning to protest the use of tax dollars to fund war. in dozens of communities across the country, demonstrations are planned at irs...
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Mar 5, 2012
03/12
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and tax relief is now on the way. today is a great day for america. >> the bush tax cuts in a lot of ways were written like a subprime mortgage. you know, they were designed to make people see certain things, and not see a lot of the fine print. >> fully 30% to 40% of the benefits were going to the very top of the income distribution. the top 1%. and when you broke it down, it was really the top one-tenth of 1% that did so well because of the estate tax changes, and because of the changes in the top tax rates, the changes in the capital gains taxes. and if you go to 2003, changes in the dividend tax. i mean, these were all tax breaks that were worth a vast amount to the richest of americans and worth very little to middle-class americans. >> within a few weeks after the legislation was passed, we all get a letter that says congress and the president have given you this tax cut. and then that's pretty much it for the middle class. but for higher income groups, the further forward you go in time, the bigger and bigger t
and tax relief is now on the way. today is a great day for america. >> the bush tax cuts in a lot of ways were written like a subprime mortgage. you know, they were designed to make people see certain things, and not see a lot of the fine print. >> fully 30% to 40% of the benefits were going to the very top of the income distribution. the top 1%. and when you broke it down, it was really the top one-tenth of 1% that did so well because of the estate tax changes, and because of the...
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Jun 27, 2012
06/12
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tax code already. it is a mess and needs to be revisited again. >> rose: looking at ebb everything on the table. >> revenue from our point of view is tied to serious entitlement reform there is a way to get to the end here and to get an understanding that saves this country, but i will not make a commitment in advance about what i will or won't do. >> rose: but you are prepared for a grand bargain? >> i am prepared for a grand bargain. >> rose: and as a speaker. >> we are prepared to do a grand bargain, we have a to have a willing president -- you don't get knees deals done without a president who is serious about getting an outcome. >> rose: are you at one with the speaker and the republican leader in the senate? >> i don't think there is any debate about the need for more revenue the debate is how do you generate that revenue? i don't have -- i said this repeatedly, i don't have -- and i this at this way you generate revenue is there uh growth not through new taxes. >> rose: but that puts you at diff
tax code already. it is a mess and needs to be revisited again. >> rose: looking at ebb everything on the table. >> revenue from our point of view is tied to serious entitlement reform there is a way to get to the end here and to get an understanding that saves this country, but i will not make a commitment in advance about what i will or won't do. >> rose: but you are prepared for a grand bargain? >> i am prepared for a grand bargain. >> rose: and as a speaker....
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Aug 29, 2010
08/10
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we should have a flat tax or a value added tax. >> i think it started to look at a flat tax you would start to get rid of this labyrinth of contradictory taxation. >> but there is not an inevitability that the only way to replace the labyrinth is to have a flat tax, which some would argue, is unfair. perhaps what you do is you get red of all of the social policy statements made through taxes -- >> what would you do to reduce the size of governments, bob franken? >> first of all, i would probably look at the bureaucracy. second, look of the programs that are there just to please some politically expedient constituency. third, i would take a really hard look at the defense establishment which is so riddled with flab. frankly, if he did just those things then we could turn to all of the social services that repetitious, redundant, etc., and suddenly we would be swimming in money. >> john, specifically what would you do? >> follow the example of the new governor of new jersey, chris christie, who froze the spending in his state at last year's level -- >> include spending on two foreign wa
we should have a flat tax or a value added tax. >> i think it started to look at a flat tax you would start to get rid of this labyrinth of contradictory taxation. >> but there is not an inevitability that the only way to replace the labyrinth is to have a flat tax, which some would argue, is unfair. perhaps what you do is you get red of all of the social policy statements made through taxes -- >> what would you do to reduce the size of governments, bob franken? >> first...
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Nov 17, 2010
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the corporate tax? >> i think if we get the tax rate down for corporations, america will be competitive. when our tax rate was put in, we didn't have a global economy. we didn't have competitors. my competitors in north carolina were in south carolina or virginia. now they're in china, they're in singapore, they're in brazil. we compete in a global economy. we have to have a global... we have to have a tax code that is sensitive to what goes on in the real world and if we have that, we'll create more jobs, we'll create more money flowing into the economy and it will be a better place to start and own a business. >> we're going to unleash a pile of scratch that those corporations are holding back. they're just looking around wondering what's going to happen in this country. you've unleashed... what is it they have in there? $2 trillion? >> rose: it's in the trillions and the argument is that they are waiting to see what the regulatory landscapes look like, what the tax landscape will look like before the
the corporate tax? >> i think if we get the tax rate down for corporations, america will be competitive. when our tax rate was put in, we didn't have a global economy. we didn't have competitors. my competitors in north carolina were in south carolina or virginia. now they're in china, they're in singapore, they're in brazil. we compete in a global economy. we have to have a global... we have to have a tax code that is sensitive to what goes on in the real world and if we have that, we'll...
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May 13, 2012
05/12
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we can fight for a financial transaction tax, this tax." >> we used to have a financial transaction tax in this country. from 1914 to 1966. then, in 1987, at the time of another wall street crash, the first president bush and senator bob dole, a republican, and several other republicans called for restoring it. didn't happen. >> no, and there's even a financial transaction tax in the s.e.c. right now -- a small one. there's one in new york city, as well. i mean, so financial transaction tax, you know, has been here. >> there are many critics of the financial transaction tax. and they say, among other things, that the banks will simply pass the cost onto the consumer. they say that the banks, if they have fewer trades, will let people go. there'll be unemployment on wall street. they say that the banks will flee, they'll go abroad, they'll go somewhere else with their business, as happened once when sweden had a financial transaction tax and lost a lot of trading activity. they say you're killing the goose that laid the golden egg. >> well, i'm waiting to see the golden egg. the truth of
we can fight for a financial transaction tax, this tax." >> we used to have a financial transaction tax in this country. from 1914 to 1966. then, in 1987, at the time of another wall street crash, the first president bush and senator bob dole, a republican, and several other republicans called for restoring it. didn't happen. >> no, and there's even a financial transaction tax in the s.e.c. right now -- a small one. there's one in new york city, as well. i mean, so financial...
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Feb 12, 2013
02/13
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carbon tax, federal gas tax is going up a bit. something like that. you can get another few hundred billion a year out of that. that gets you up to 3.5. the last trillion is where the rubber meets the road. i think all of that, maybe dems and republicans wouldn't automatically admit they would be willing to do it but all of that is within the realm of reason. the last trillion is the hard part. because then you're making very tough choices about which specific taxes to raise versus which specific spending cuts. >> rose: what choices would you recommend the country make. >> in my opinion and i do work some with the congressional budget office, although they are nonpartisan, this is just my opinion. i would make four or five big choices. i would, indeed, put up some sort of carbon tax. and for the sake of call all of us and future generation. >> rose: the congress went crazy over cap and trade. >> cap and trade is a crazy thing to doment but also, also, frankly, the world has changed. i mean it's a lot hotter now and people are noti
carbon tax, federal gas tax is going up a bit. something like that. you can get another few hundred billion a year out of that. that gets you up to 3.5. the last trillion is where the rubber meets the road. i think all of that, maybe dems and republicans wouldn't automatically admit they would be willing to do it but all of that is within the realm of reason. the last trillion is the hard part. because then you're making very tough choices about which specific taxes to raise versus which...
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Oct 1, 2010
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taxes. -- 80% of americans pay more in payroll taxes and then in income taxes. no. wages, as i say in the book, wages have flattened for 30 years if you adjust for inflation. obviously, people are overtaxed. but the top is not overtaxed. last year, you had the top 25 hedge fund managers, each of them making an average of $1 billion and paying an average tax of 70%. that is what somebody earning $30,000 pays. teavis: i ask this question the other night. politically understand why elected officials want to talk about the middle class all the time, but what troubles me is there is so much conversation about the middle class and nobody ever talks about a week working class. i talk about those who are in poverty. we do not want to say the word poverty in our public discourse. the language seems to be all wrong. it is a minimum wage, not a living wage. we are experiencing a jobless recovery. call the whole language it troubles me and we do not seem to get to a composition about the very poor in this country. why is that? >> partly because the very core very often are
taxes. -- 80% of americans pay more in payroll taxes and then in income taxes. no. wages, as i say in the book, wages have flattened for 30 years if you adjust for inflation. obviously, people are overtaxed. but the top is not overtaxed. last year, you had the top 25 hedge fund managers, each of them making an average of $1 billion and paying an average tax of 70%. that is what somebody earning $30,000 pays. teavis: i ask this question the other night. politically understand why elected...
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Nov 19, 2010
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tax credit, research and development tax credit, getting some of the money on the sidelines back in. there is not a lot of evidence that extending this tax break will do much to extend the economy. tavis: how is this going to end the year president obama to his progress of base, who he is already in trouble with? >> i want to get out of a left, right battle. and say, how do we get people back to work? 9.6% unemployment. if we are going to be honest, we have to a knowledge that the government has used its tools. the fed or reserve has lowered interest rates about as much as you can. i do not think our republican colleagues are going to go for more stimulus. the one piece of the economy that is still healthy, large companies are sitting oall of this cash. what can we do to get them spending it? that can go a long way to showing that this president ant. the private sector is where the jobs are going to come from. that would be healthy for everyone. i have been pleasantly surprised at a number of progressive members of congress have endorsed my idea. this makes sense. if we're going to h
tax credit, research and development tax credit, getting some of the money on the sidelines back in. there is not a lot of evidence that extending this tax break will do much to extend the economy. tavis: how is this going to end the year president obama to his progress of base, who he is already in trouble with? >> i want to get out of a left, right battle. and say, how do we get people back to work? 9.6% unemployment. if we are going to be honest, we have to a knowledge that the...
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Nov 5, 2012
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state taxes, income tax es it's capitalism. ers on the of capital are winning so much more than laborers. capital has no roots, right? and to just deny that that's happening and not have a little bit of an activist tax policy about it, i think it's my ev. it's destructive and it's just absurd. >> my name is nelini stamp. i'm 24 years old. >> nelini stamp is a community organizer. she joined occupy wall street on its first day. >> i've been fed up with having to worry about living from paycheck to paycheck because of corporate greed and because we don't have a very high minimum wage in new york. i really just wanted to take a major leap in fighting back. i think we need to, first of all, have public financing of elections. that is a huge deal. one of the reasons is you know, why corporations -- because there's an unlimited amount of donations that they can girlfriend political campaigns and it's about time that we all stand up and take this back. >> yea! >> i found my voice. i've been very apathetic, very cynical of the system t
state taxes, income tax es it's capitalism. ers on the of capital are winning so much more than laborers. capital has no roots, right? and to just deny that that's happening and not have a little bit of an activist tax policy about it, i think it's my ev. it's destructive and it's just absurd. >> my name is nelini stamp. i'm 24 years old. >> nelini stamp is a community organizer. she joined occupy wall street on its first day. >> i've been fed up with having to worry about...
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Oct 26, 2012
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>> what tax reform do you want to see? tax cuts do you favor? what deductions do you -- are you prepared to eliminate? >> well, i think what you do is you go to the table and you put everything on the table, because you have to subject, does it create jobs? does it reduce the deficit? you know, what really is going on here? i think that most democrats would agree that there are many loopholes that can be closed and i think some of these ceos probably agree to that. >> rose: right. you know,, there is what they press governor romney on all the time, what tax deductions are you in favor of eliminating? i am asking you? what tax deductions and your answer is exactly what governor romney says. >> no, no. >> rose: wait until the negotiations he said. >> no, no that is not what he is saying, he is saying he is not going to increase taxes at the high end, he is not saying wait until the negotiations for that big piece of it, but let me just say this, what the governor is proposing and what his running mate has proposed in his budget -- >> rose: they ar
>> what tax reform do you want to see? tax cuts do you favor? what deductions do you -- are you prepared to eliminate? >> well, i think what you do is you go to the table and you put everything on the table, because you have to subject, does it create jobs? does it reduce the deficit? you know, what really is going on here? i think that most democrats would agree that there are many loopholes that can be closed and i think some of these ceos probably agree to that. >> rose:...
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philosophy, don't tax me, don't tax you, tax the guy behind the tree. and we can't find the guy behind the tree. >> rose: russell long of the senate finance committee. you didn't answer my question. you just told me a cute story. >> (laughs) >> rose: (laughs) what is your tax plosfy? you're certainly not a supply-sider, are you? >> my tax plos philosophy would be if we can't deal with our expenditure load with the present tax system we have to think about changing the tax system. when we think about changing the tax system, given the problem that we started out talking about, you've got to talk about some tax that hits consumption. >> rose: value-added. >> value-added is one. but a tax on carbon would be another. >> rose: right. >> those are two big once. it doesn't have to be one of those two but there aren't all that many choices. but i think we ought to think about the contribution it can make to a better balance of the economy, better environment for investment, better arrangement for maintaining our competitive position, those are all qualities tha
philosophy, don't tax me, don't tax you, tax the guy behind the tree. and we can't find the guy behind the tree. >> rose: russell long of the senate finance committee. you didn't answer my question. you just told me a cute story. >> (laughs) >> rose: (laughs) what is your tax plosfy? you're certainly not a supply-sider, are you? >> my tax plos philosophy would be if we can't deal with our expenditure load with the present tax system we have to think about changing the...
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Jan 10, 2011
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reform, and tax reform means getting rid of a lot of tax deductions, tax credits, tax loopholes, in order to lower the rates, well, once you start sort of changing all of the furniture it is hear to say well what is the bush tax cut? we were arguing about whether upper end tax cuts are 35-point or 39. 39.5 well if yoo tax reform the top rate may be 28 percent because you got rid of all of these deductions, that doesn't mean everyone's taxes will go down, taxes in fact may go up, it deptds on how much they use deductions and credits and how much they don't but it will sort of change the question so we won't be arguing, happily we won't argue about the tax bush cuts anymore. >> rose: the president seems to me to be open to the idea of the reduction of corporate tax. >> he is open to the idea of corporate tax reduction as is everybody, frankly, and everyone is open to the idea of tax reform, i mean, there is consensus on that, the only thing there is not consensus on is the republicans saying we want tax reform that raises no more money than we raise now. the president and the democrat
reform, and tax reform means getting rid of a lot of tax deductions, tax credits, tax loopholes, in order to lower the rates, well, once you start sort of changing all of the furniture it is hear to say well what is the bush tax cut? we were arguing about whether upper end tax cuts are 35-point or 39. 39.5 well if yoo tax reform the top rate may be 28 percent because you got rid of all of these deductions, that doesn't mean everyone's taxes will go down, taxes in fact may go up, it deptds on...
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Oct 6, 2012
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because 47%, he said didn't pay income taxes. but many of those people pay payroll taxes. many of those are young people, old people, after all, many of the older people may not be paying income taxes now but they paid their social security contributions. and now they're getting back what they paid for. so to say that they were freeloaders was really denigrating a lifetime of work that they had contributed to. >> rose: where is the federal reserve in all of this? >> the federal reserve obviously wasn't doing what it should have done in the years before the crisis. >> it was paying too much attention to interest rates and not enough attention to employment. >> that was one of the problems. it was not paying enough attention to what the banks were doing. one of the members of the fed actually talked about it. there is a housing bubble going on there is predatory lending going on. you should stop this because if you don't you're going to have a problem. >> greenspan and the rest of the board ignored it. and so that lead to the housing bubble. and predatory lending. the fed ha
because 47%, he said didn't pay income taxes. but many of those people pay payroll taxes. many of those are young people, old people, after all, many of the older people may not be paying income taxes now but they paid their social security contributions. and now they're getting back what they paid for. so to say that they were freeloaders was really denigrating a lifetime of work that they had contributed to. >> rose: where is the federal reserve in all of this? >> the federal...
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taxes. but increases will be on the table in the days ahead. what is a just tax system? how should the government raise revenue to provide the basic services our society needs? and how should the tax burden be shared? tim o'brien reports. >> reporter: there are some things the government must do, and the first reason for taxes is to pay for them. beyond that there is wide debate over how taxes can be efficient and fair and what kind of society they should promote. >> people on the left think that the tax code is not nearly redistributive enough, that the rich are really getting away with murder. people on the right think that it's not the job of government to be redistributing income and that the tax code we have is too progressive. >> reporter: greg mankiw was chairman of the council of economic advisers in the second bush administration. >> it's a difference of values, of what you think government should be, in coming to any sort of tax reform. those different values are going to collide,
taxes. but increases will be on the table in the days ahead. what is a just tax system? how should the government raise revenue to provide the basic services our society needs? and how should the tax burden be shared? tim o'brien reports. >> reporter: there are some things the government must do, and the first reason for taxes is to pay for them. beyond that there is wide debate over how taxes can be efficient and fair and what kind of society they should promote. >> people on the...
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Feb 14, 2010
02/10
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it is a tax. you are paying a tax in time. it is much higher than the few pennies that we were going to be charged in direct taxation. pretty soon there will be enormous debate on cap and trade. is a carbon tax in which polluters will buy credits from on polluters particularly in the industry, but also refining and manufacturing. wait a minute, what is going on here? what is needed -- and everyone in the industry will say, a carbon tax will be cheaper. but it was the oil industry led by the american petroleum institute a generation ago which resoundingly defeated the carbon tax. we will pay tax if we get kappa and trade. we'll be taxed or we will be polluted we ll not get away scot-free. these decisions, nonetheless, art decisions whether we take them or not. -- our decisions whether we take them or not. we have a very gifted television interviewer, someone from a university with a deneen perspective on politics and the world. we will be right back. >> by house chronicle is produced in collaboration with whut, howard universit
it is a tax. you are paying a tax in time. it is much higher than the few pennies that we were going to be charged in direct taxation. pretty soon there will be enormous debate on cap and trade. is a carbon tax in which polluters will buy credits from on polluters particularly in the industry, but also refining and manufacturing. wait a minute, what is going on here? what is needed -- and everyone in the industry will say, a carbon tax will be cheaper. but it was the oil industry led by the...
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Mar 23, 2011
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into office we had a tax increase. i think that you can have sales taxes that are appropriate when you get out and make the case for it. we had to pay for $4 million in water and sewer repair. everyone got it. there was a kp and g study that said that would gyp rate $19 billion in economic development. but i believe all of us have to do a much better job of articulating why we need resources to explain to people what you will lose if you don't. the other change that i see us making is the part of government that interacts with people's lives, that people see, feel and touch, it has to get done right now. so that the other parts are okay. but when folks making 9/11 phone call trash service, that actually has to function better in these tough times or really null apart because there's so much price in substituted. >> charlie: where are you cutting spending in atlanta? >> well, we did a number of things. well police and fire are off limits. but first of all, the pension reform is actually going to have a positive cash yie
into office we had a tax increase. i think that you can have sales taxes that are appropriate when you get out and make the case for it. we had to pay for $4 million in water and sewer repair. everyone got it. there was a kp and g study that said that would gyp rate $19 billion in economic development. but i believe all of us have to do a much better job of articulating why we need resources to explain to people what you will lose if you don't. the other change that i see us making is the part...
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tax. in 1913, we got the modern income tax and the federal reserve. >> so 1913 is taxes. 1935, social security. in 1965, under johnson, was health care, medicare and medicaid. ok. if you go back and look as social security, if i read things correctly, 35% of the people who retire live on social security. is that correct? >> primarily. 22% of americans rely on social security exclusively, and it was never intended to be that way, but that is the way it is. >> in the boat, the chapter heading, save social security. how're you going to save it, because you have all this money obligated to pay lots of folks were long time to come? >> the good news is, social security, in basketball terms, is a lay up. you can miss it, but it is a pretty high percentage shot. we can exceed the expectations for every generation. for people right out of retirement, you'll make little to no changes because they do not have time to make adjustments. the younger york, the better off you are financially, the more you
tax. in 1913, we got the modern income tax and the federal reserve. >> so 1913 is taxes. 1935, social security. in 1965, under johnson, was health care, medicare and medicaid. ok. if you go back and look as social security, if i read things correctly, 35% of the people who retire live on social security. is that correct? >> primarily. 22% of americans rely on social security exclusively, and it was never intended to be that way, but that is the way it is. >> in the boat, the...
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May 9, 2012
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that's what what they do in europe, low corporate tax, high individual tax. >> charlie: value-added tax essential? >> i don't think it's essential. it answers problem to revenue in a consumption based economy. >> charlie: if you look at the debt that we face as a percentage of g.d.p. which we can't sustain. >> no we can't sustain it. we have to act. if question is do we push austerity right now or do we put together a package that i've described that would generate growth? you're never going to be able to cut your way to the answer here. you have to grow your way to the answer. you grow your way by creating jocks that are well paying. you do that which by getting the money off the books out of the.... >> charlie: you offer incentive for companies to get money off the books. there's no incentive to giving a tax break if you spend money. >> the only tax break i would give them is if you hire somebody today for this next two years, if you hire somebody today, then the federal government will pay 30% of the cost of that job up to $25,000 a person. when you fire nobody, that is the best way.
that's what what they do in europe, low corporate tax, high individual tax. >> charlie: value-added tax essential? >> i don't think it's essential. it answers problem to revenue in a consumption based economy. >> charlie: if you look at the debt that we face as a percentage of g.d.p. which we can't sustain. >> no we can't sustain it. we have to act. if question is do we push austerity right now or do we put together a package that i've described that would generate...
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Nov 1, 2011
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he reduces corporate tax rates and the top and a tax rate. he says he wants a flatter tax that applies to more people. he wants low-income people to pay higher income tax. his reforms are regressive. they're just not as extreme. tavis: if you take herman cain's plan, you get triple sixes. the devil is in the details. >> his is the worst. cain appliestatox tax to neeryo so thater people who are now in the lower part of the spectrum will now have to pay 9%. then he adds on top of that a 9% national sales tax. those are the most difficult taxes for the low-income people because they spend more of their income on necessities. you will be spending an extra 9% on every bottle of milk and item of food. the cain plan does the worst damage. tavis: there was a story the other day, it was fascinating for me. i think it connects with this conversation. the new york time brooks this story -- broke this story, mister romney is out raising president obama four or five times. he was up four or five times in fund-raising over president obama with regard to ge
he reduces corporate tax rates and the top and a tax rate. he says he wants a flatter tax that applies to more people. he wants low-income people to pay higher income tax. his reforms are regressive. they're just not as extreme. tavis: if you take herman cain's plan, you get triple sixes. the devil is in the details. >> his is the worst. cain appliestatox tax to neeryo so thater people who are now in the lower part of the spectrum will now have to pay 9%. then he adds on top of that a 9%...
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May 2, 2012
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so i am not opposed to a sales tax, but a value-added tax means you keep the present tax system and add tax on top of it and i think what we have today is sick. >> rose: so you are going to end the senate term and go back to oklahoma. >> i am. >> and practice medicine or do something else? >> it depends i am not sure i can keep up with medicine well enough to serve patients fairly. >> rose: fair enough. there is also this. you seem to be saying that you are pessimistic, you don't think we have the will at this time. >> i think the american people do. i don't think the politicians do. the american people, if you lay out, if they were to read this book and you lay out what is in front of us and he say any combination of those are something else, fix it. they would like to see it fixed, they are worried about their children, and their grandchildren,. >> rose: and they believe the life may be worse for the children than it is for them. >> and it is going to be, if we don't fix this. >> rose: the book is called the debt bomb, a bold plan to stop washington from bankrupting america, a lot of
so i am not opposed to a sales tax, but a value-added tax means you keep the present tax system and add tax on top of it and i think what we have today is sick. >> rose: so you are going to end the senate term and go back to oklahoma. >> i am. >> and practice medicine or do something else? >> it depends i am not sure i can keep up with medicine well enough to serve patients fairly. >> rose: fair enough. there is also this. you seem to be saying that you are...